International Business

Pacific Rim Boom Slows: Economic growth may be sluggish, but it is far from over, according to a study. “Strong economic growth rates of 4.1% and 4% are forecast for 1995 and 1996, respectively, moderating from a booming 4.7% in 1994,” the Pacific Economic Cooperation Council said in its annual report. Continued low inflation is forecast for 19 major economies in the Asia-Pacific region, according to the report, which was sponsored by the Asia Foundation. But inflation “will remain a problem in China. The outlook for Japan is still somewhat pessimistic, the report says. It predicts a growth rate of 1.2% in 1995 and 2.8% in 1996.